Euroseas Ltd. (NASDAQ:ESEA) Sees Large Increase in Short Interest

Euroseas Ltd. (NASDAQ:ESEA) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 13,100 shares, a growth of 15.9% from the November 30th total of 11,300 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average trading volume of 47,600 shares, the short-interest ratio is currently 0.3 days.

Euroseas Trading Up 6.0 %

NASDAQ ESEA opened at $36.20 on Wednesday. The company has a market capitalization of $253.62 million, a price-to-earnings ratio of 2.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.65 and a quick ratio of 1.59. Euroseas has a 12 month low of $31.14 and a 12 month high of $50.92. The company’s fifty day moving average price is $38.83 and its two-hundred day moving average price is $40.81.

Euroseas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Monday, December 9th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.40 annualized dividend and a dividend yield of 6.63%. Euroseas’s payout ratio is 14.80%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ESEA shares. StockNews.com lowered Euroseas from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Alliance Global Partners initiated coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price objective on the stock.

Institutional Trading of Euroseas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in shares of Euroseas by 6.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 7,593 shares of the shipping company’s stock valued at $371,000 after acquiring an additional 485 shares in the last quarter. BayBridge Capital Group LLC raised its position in shares of Euroseas by 8.7% during the 3rd quarter. BayBridge Capital Group LLC now owns 13,244 shares of the shipping company’s stock valued at $647,000 after acquiring an additional 1,057 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Euroseas by 25.0% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 7,810 shares of the shipping company’s stock worth $382,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Euroseas by 2.2% in the second quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock worth $2,559,000 after purchasing an additional 1,602 shares during the period. 6.27% of the stock is owned by institutional investors.

Euroseas Company Profile

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.